PRA Group (NASDAQ:PRAA) Trading 6.7% Higher – Here’s What Happened

PRA Group, Inc. (NASDAQ:PRAA) shares were up 6.7% during trading on Tuesday . The stock traded as high as $16.34 and last traded at $16.9150. 37,446 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 571,765 shares. The stock had previously closed at $15.86.

Analyst Ratings Changes

A number of research firms have weighed in on PRAA. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.00.

PRA Group Trading Up 2.3%

The stock has a market capitalization of $686.52 million, a PE ratio of -2.51 and a beta of 1.14. The firm has a 50 day moving average price of $17.27 and a 200 day moving average price of $16.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Thursday, May 7th. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.22. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%.The company had revenue of $314.53 million for the quarter, compared to the consensus estimate of $295.90 million. On average, equities research analysts expect that PRA Group, Inc. will post 2.52 EPS for the current year.

Institutional Investors Weigh In On PRA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. Los Angeles Capital Management LLC bought a new position in shares of PRA Group in the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its position in shares of PRA Group by 145.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,471 shares during the period. Larson Financial Group LLC boosted its holdings in PRA Group by 146.8% in the 4th quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock worth $50,000 after buying an additional 1,694 shares during the period. Tower Research Capital LLC TRC increased its stake in PRA Group by 375.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock worth $71,000 after buying an additional 3,777 shares in the last quarter. Finally, CWM LLC increased its stake in PRA Group by 39.0% in the 4th quarter. CWM LLC now owns 6,420 shares of the business services provider’s stock worth $114,000 after buying an additional 1,802 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.